Lender & Creditor Advisory
We regularly carry out Independent Business Reviews (IBRs) on behalf of senior lenders to ascertain the viability of a business that’s experiencing financial difficulties.
At Cork Gully our review will encompass all the businesses’ activities and operations, including analysis of management accounts, balance sheet assets and liabilities, cash flow management and debtor and creditor management processes. Our recommendations are presented in a formal document. Usually, time is of the essence and our team can provide an IBR report within 72 hours, provided we have access to all relevant information.
Following the presentation of our report we can advise stakeholders and senior lenders on possible routes forward.
In some circumstances when a business is under severe pressure from suppliers, HM Revenue & Customs or lenders it can be possible to reach an agreement for deferred payments of debt. This can take the form of time-to-pay agreements, a debt reduction proposal, or both, without the needing the business to enter a formal insolvency process.
While it’s possible for the company to undertake this exercise without seeking external advice, there is a risk that if not handled correctly it can lead to increased creditor pressure as any hint of financial difficulty may create a stampede.
At Cork Gully our experienced team will negotiate on your behalf, be it with a single creditor, such as HM Revenue & Customs, or several suppliers or lenders. We can help present facts clearly to reassure creditors that no single creditor will be unfairly prejudiced and that a settlement can result in on-going profitable trading.
We would:
- Determine the optimum deal for both the company and creditors
- Ensure robust data backs up the company’s assertion that it can adhere to any agreement
- Negotiate directly with the creditors to achieve a positive outcome
- Provide illustrative outcomes to creditors to show the options available
